Wal-Mart Earnings Increased 34%
In First Quarter, Topping Forecasts

Wal-Mart Stores Inc. said net income rose 34% in its fiscal first quarter, beating expectations even though its international operations were squeezed by additional investment in Germany.

While the first quarter is traditionally the weakest for retailers due to a post-holiday lull, the world's largest retailer continued its streak of strong earnings, boosted by internal operating improvements as well as the strong economy.